Revenues down in the third quarter of this year for Tim Brazil, the Brazilian subsidiary of the Telecom Italia group. In fact, the period between July and September closed with revenues of 4,117 billion reais (about 999 million euros), down by 15,2%. In the first nine months of the year, total revenues reached 13 billion reais (-9,2%). Organic EBITDA fell by 2,7% in the third quarter to 1,296 billion (3,9 billion in 9 months, -1,8%).
In the period between July and September organic net profit halved to 172 million reais (-50,5% annually), in the nine months it goes to 775 million (-28,6%).
“This is, without a doubt, a period of great transformations, for the country, for the sector and for Tim – commented the CEO of Tim Brasil Rodrigo Abreu – and we are firmly committed to our strategy of becoming a leading mobile operator in Brazil , continuing to invest in the infrastructure of the future and becoming more and more efficient every day. With the achievement of leadership in 4G coverage and with the launch of a completely new offer in our portfolio - he continued - we are getting closer to our objectives of sustainable growth and higher operating and financial results. We know that the challenges ahead of us are not small but we remain committed to achieving our goals”.
